The listing of Tenneco Clean Air India Ltd. will be in focus as investors await the company's debut on the stock market.
Shares of Tenneco Clean Air India will list on the BSE and NSE on Wednesday, November 19. The share allotment status for the IPO was finalised on November 17. Successful bidders were allotted shares on Tuesday, and refunds were also issued on the same day.
Ahead of its listing, the grey market premium, an unofficial barometer of the expected share price, soared to a new high, rising 21% from the day the IPO was launched. The grey market premium (GMP) for the Tenneco Clean Air India IPO indicates a positive listing gain of nearly 26% per share over the issue price.
The IPO of the Tamil Nadu-based manufacturer of clean air and powertrain products for automotive applications was oversubscribed 58.83 times (led by demand from QIBs), with investors bidding for over 3921 crore shares against 666.66 crore shares on offer.
Here’s a look at what the latest market trends indicate for the IPO of Tenneco Clean Air
Tenneco Clean Air India Share Price (Expected)
The latest GMP for the IPO was Rs 103 as of 7:30 a.m. on November 19. This means that Tenneco Clean Air India's shares are expected to list at Rs 500, a premium of 25.94% over the upper end of the IPO price band.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
About Tenneco Clean Air India IPO
Tenneco Clean Air India IPO was a book-building issue worth Rs 3,600 crore. It comprised entirely an offer-for-sale (OFS) of 9.07 crore shares.
The price band for the IPO was set at Rs 378 to Rs 397 per share.
To participate in the IPO, retail investors must bid for a single lot size of 37 shares, requiring an investment of Rs 14,689.
JM Financial is the book-running lead manager and MUFG Intime India is the registrar for the issue.
About Tenneco Clean Air India
Tenneco Clean Air India, a key subsidiary of the US-headquartered Tenneco Group, is a Tier I automotive component supplier. The parent company reported a revenue of $16,777 million for the fiscal year ended Dec. 31, 2024.
Established in India in 1979 with its first manufacturing facility in Parwanoo, Himachal Pradesh, Tenneco Clean Air India specialises in manufacturing and supplying advanced, technology-driven clean air, powertrain and suspension solutions.
The company serves a diverse customer base across multiple vehicle segments, including passenger vehicles, commercial vehicles and industrial applications, such as generator sets, small commercial vehicles under 3.5 tonnes, two-wheelers and three-wheelers. Tenneco Clean Air India addresses the aftermarket through Motocare India Pvt., a subsidiary of Tenneco LLC.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
RECOMMENDED FOR YOU
Tenneco Clean Air IPO Listing: Check Date, GMP, Expected Share Price Ahead Of D-Street Debut
Tenneco Clean Air IPO: Check GMP, Allotment Status And Listing Date
Tenneco Clean Air IPO GMP Jumps After Getting Oversubscribed 58 Times; Check Latest Updates
Tenneco Clean Air IPO Subscribed 5.31 Times On Final Day — Check GMP, Other Details
POPULAR